RLinda ! GOLD -> Pullback. Retest of channel support

26 Agu 2022

Gold. The price makes a false break of the resistance 1752.5 and forms a pullback back to the support zone. We expect developments near the 1733 zone. The global trend is rising, the price is in an uptrending price channel, after strong moves up and down the price needs to gain energy for further maneuvering.

Earlier the price changed the trend to rising and formed a pullback to the support zone, thereby testing the new support of the global uptrend price channel. After the retest, I expect growth to continue.

I assume that the growth after the pullback may continue. The short-term target for the pullback is the resistance of 1752.5, the medium-term target is the far level of 1784.38.

Regards to R.Linda!